Vardy got on the scoresheet during the closing stages, but Son Heung-min confirmed the three points for Spurs in the first minute of added-on time.
Find out how all of the action unfolded on North London courtesy of Sports Mole's minute-by-minute updates below.
1.25pmHello and welcome to Sports Mole's live coverage of the match in the Premier League between Tottenham Hotspur and Leicester City. Last season's corresponding fixture ended 5-4 in Spurs' favour, but will we witness the same kind of drama this afternoon? The two teams are making their way out at Wembley Stadium, so let's take a look at the two starting lineups...
3 minIt had been a fairly low-key start to this match until Rose broke down the left and crossed towards the back post. Trippier had the chance to get a volley on target, but his effort was well blocked.
5 minLeicester are now starting to get their foot on the ball in the middle. There was a late change to their original starting lineup with Ndidi replacing Mendy, who picked up an injury in the warm-up.
7 minGray has been preferred to Vardy for this game and the winger-turned-striker has just found himself in a foot race with Sanchez. He can't get away from the Spurs centre-back on this occasion, but I'm sure that it will not be the last time that they go head to head.
8 minCHANCE! Leicester are starting to get on top. A long, curling free kick from Maddison finds Maguire - who has got the run on Llorente - at the back post, but the defender's header was tipped over the bar by Lloris.
9 minCHANCE! Now Barnes is presented with an even better chance. Tielemans slides a delightful pass through to Barnes - who has got inside Trippier - but the youngster hooks a shot wide of the far post from around 16 yards.
11 minSpurs have not been off the pace during the early stages, but Leicester look brighter and eager to make an impression. This game is shaping up nicely.
13 minBetter from the home side who get a couple of crosses into the penalty area, but Leicester defend them well. Spurs are struggling for any joy through the middle.
15 minYELLOW CARD! The first yellow card is handed to Son, and it is for diving. There was minimal contact, but he dragged his foot towards Maguire's boot. The South Korean appeared to go to ground too easily a few minutes beforehand, too, so he can have few complaints.
17 minLeicester go on the attack again, but an attempted through-ball from Ghezzal is over-hit. The move started from another pass from Tielemans, who has been excellent so far.
19 minCHANCE! Spurs break forward down the left through Rose and after advancing into the penalty area, the left-back cuts inside onto his weaker foot and fires a shot straight at Schmeichel from 10 yards. Llorente is ruled offside on the rebound. Good chance, that.
20 minYELLOW CARD! Rose is now cautioned for going into the back of Ghezzal. Like with Son, he can have no complaints.
21 minCHANCE! Tielemans is running the show right now. The January arrival slides a pass through to Barnes who pulls the ball back for Maddison. The Englishman opts to shoot first time and his left-footed strike goes wide of the far post. Leicester have been excellent going forward.
23 minSpurs go straight down the other end and threaten in the final third, but they are being met by a big Blue wall. Maguire and Evans are easily dealing with the threat offered by Llorente.
25 minYou can sense that frustration is building in the stands. Spurs are still playing fairly well, but Leicester have been the better side and are offering the bigger threat.
27 minLeicester put together another neat move and Tielemans is again involved. A corner is won when Ghezzal's shot is deflected over the crossbar, but the winger should probably have done better.
29 minYELLOW CARD! Vertonghen becomes the third Spurs player to be booked inside half-an-hour. The centre-back went in late on Chilwell on the touchline.
31 minCHANCE! What a chance for Barnes! Chilwell dispossesses Eriksen and plays the ball through to the winger who has plenty of time to decide what to do. However, he picks the wrong option and instead of trying to find the far corner, a shot is dragged wide of the near post.
33 minGOAL!Tottenham Hotspur 1-0 Leicester City (Davinson Sanchez)
33 minSpurs take the lead! A short corner finds its way to Eriksen on the edge of the area and the Dane's cross is met by Sanchez, who powers a header past Schmeichel from six yards out. The centre-back was level with the last defender.
35 minPuel will be hugely disappointed having witnessed his side concede the opening goal. Leicester have really impressed this afternoon, but they now face an uphill task.
37 minAn outswinging corner from Maddison is aimed towards Maguire, but the England international cannot make a proper connection with his header and Spurs deal with the danger.
39 minLeicester are making every effort to get in behind Spurs and Gray is provided with a ball to try to reach. However, Sanchez gets back and dispossesses the winger.
41 minThe Foxes win another corner but on this occasion, the delivery is over-hit and Maguire can do nothing with the ball at the far side of the penalty area.
43 minSpurs have got themselves back on the ball over the past couple of minutes. They just want to see this out until half time now.
45+2 minTielemans finds himself on the left flank and seemingly stuck in the corner. However, the midfielder's swerving cross on the half-volley almost deceives Lloris, who fumbles the ball behind for a corner.
45+3 minHALF TIME:Tottenham Hotspur 1-0 Leicester City
2.22pmThe half-time whistle goes at Wembley Stadium and Spurs lead thanks to a header from Sanchez. Leicester have had the better chances, however, and will feel that they should at least be done on level terms at the break.
2.26pmSpurs' goal came after a spell of Leicester pressure. Eriksen was provided with the ball on the edge of the area and the Dane's cross found Sanchez, who powered a header into the net for his first goal in a white shirt.
2.30pmLeicester will be far from discouraged having gone behind. Barnes has wasted a couple of opportunities, and Maddison has also had a decent chance from the edge of the area. However, Tielemans has been the star of the show.
48 minCHANCE! The first chance of the second half goes to Llorente, but the Spaniard headed harmlessly over the bar after meeting Trippier's cross.
50 minPuel is going ballistic on the touchline. He's clearly encouraged his side to do something at half time and they are yet to do it. I wonder how long it will take for the introduction of Vardy.
51 minCHANCE! Vardy would have probably converted this chance. Pereira's cross from the right finds the head of Gray, but the winger's effort is tame and straight at Lloris.
53 minThe crowd cheer sarcastically as the referee gives a decision to Spurs, which is a bit unfair. Nothing comes from the resulting set piece.
55 minSHOT! This is better from Gray who turns inside the area and gets a shot on target but again, it is straight at Lloris. Leicester have picked up where they left off in the first half.
57 minSHOT! Chilwell drives through the middle of the pitch and gets a shot away with his weaker right foot, but it is never going to beat Lloris.
58 minPENALTY! Leicester win a penalty! The Foxes break superbly down the left and the ball runs for Maddison inside the area. The midfielder should shoot first time, but his delay in getting an effort away leads to Vertonghen committing a foul. It's a debatable one but probably the right decision.
59 minSUBSTITUTION! Leicester make a change and Vardy is going to replace Gray. Not only that, he is going to take the penalty!
60 minIt is missed! High drama at Wembley. Vardy makes good connection with his spot kick, but Lloris saves well down to his right.
62 minLeicester will still feel that they can get something from this game, but that was a huge opportunity. Can Spurs capitalise in the final third for a second time?
63 minGOAL!Tottenham Hotspur 2-0 Leicester City (Christian Eriksen)
63 minYou bet they can. Pereira takes too long trying to clear his lines and the ball goes to Llorente who quickly finds Eriksen. The Dane takes a touch before finding the bottom corner of the net from 20 yards out. Clinical.
65 minCHANCE! My word. How has Barnes not scored? The youngster is literally 10 yards from goal and only has Lloris to beat, but the goalkeeper stands firm and makes a tremendous block. Barnes has been extremely wasteful in front of goal today.
67 minPuel is cutting a frustrated figure on the touchline. He has put together the perfect gameplan for this match, but his team have squandered a hatful of chances.
69 minI think that Spurs will soon by going to a back three. Alderweireld is being readied on the bench.
71 minSUBSTITUTION! Skipp is the man to be withdrawn with Alderweireld going into defence. Sissoko will now partner Winks in the midfield.
72 minSUBSTITUTION! Leicester make their second change with Iheanacho replacing Ghezzal.
74 minThe visitors are still offering the most in the final third but on this occasion, Vardy cannot get on the end of Chilwell's inviting cross.
76 minGOAL!Tottenham Hotspur 2-1 Leicester City (Jamie Vardy)
76 minGame on. Pereira gets to the byline and sends in a low cross for Vardy, who gets in front of Alderweireld and converts from close range. This could be a long 14 minutes plus added-on time for Spurs.
78 minSpurs find themselves on the back foot, and Pochettino is going to react with another change. Leicester really fancy this now.
80 minSUBSTITUTION! Wanyama is being introduced with Llorente the man to be withdrawn.
82 minCHANCE! Pereira and Vardy link up for the second time in quick succession, but the latter's volley is sent marginally over the crossbar from close to the penalty spot.
83 minSHOT! Leicester aren't knocking on the door - they are almost banging it down. Iheanacho cuts inside from the right before sending a shot into the side-netting.
85 minYELLOW CARD! Tielemans looks shattered and the midfielder opts to pull down Sissoko rather than chase the Spurs man.
87 minRose has just had a decent shout for a penalty after contact with Maguire, but the referee decides that he initiated the contact.
88 minSUBSTITUTION! Both managers make their final change, with Okazaki replacing Barnes for Leicester and Walker-Peters coming on for Rose for the home side.
90 minThere will be four minutes of added-on time.
90+1 minGOAL!Tottenham Hotspur 3-1 Leicester City (Son Heung-min)
90+1 minGame over. Leicester continue to surge forward but a move breaks down and after Sissoko clears, Son is through on goal. The South Korean runs half the length of the pitch before reaching the penalty area and firing the ball past Schmeichel.
90+3 minCHANCE! One final chance for Leicester but Chilwell sees his towering header well claimed by Lloris. The Spurs stopper has enjoyed a really good game today.
90+5 minFULL TIME:Tottenham Hotspur 3-1 Leicester City
3.30pmThe full-time whistle goes at Wembley and Spurs have successfully come through a hard-fought contest to register all three points. Leicester should have taken at least a point from this game, but Spurs showed a clinical touch in the final third and now sit five points adrift of Liverpool.
3.33pmThat will be all from Sports Mole for this match. Thank you for joining us this afternoon, and we hope that you can return for our coverage of the game involving Manchester City and Chelsea, which starts in just over 20 minutes time.
If you would like to read our on-the-whistle match report, you can do so by clicking here. Goodbye for now.